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In a move that underscores the growing importance of Special Economic Zones (SEZs) in driving Africa’s industrialisation, KCB Group and the African Export-Import Bank (Afreximbank) have signed a landmark Memorandum of Understanding (MoU) to provide $800 million in financing support for the Vipingo Special Economic Zone in Kilifi County, Kenya. Under the agreement signed in Nairobi on September 17, 2025, Afreximbank will contribute $500 million while KCB Group will inject $300 million towards the initiative. The deal was announced at the Arise Integrated Industrial Platforms (Arise IIP) – Kenya Investment Forum 2025, a high-level gathering of business leaders seeking to…
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By Jeremy Awori Across Africa, there is growing momentum in support of intra-African trade, as work to unlock the potential of small and medium-sized enterprises (SMEs) as key drivers of the continent’s economic transformation gains traction accross Africa, there is growing momentum in support of intra-African trade, as work to unlock the potential of small and medium-sized enterprises (SMEs) as key drivers of the continent’s economic transformation gains traction. The African Continental Free Trade Area (AfCFTA) is poised to become the world’s largest single market by population, and with SMEs already accounting for more than 80% of employment in Africa,…
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Standard Bank Group has announced a significant leadership realignment across its Africa Regions portfolio, appointing new Regional Chief Executives (RCEs) to spearhead growth in key markets and drive greater operational…
Mr. Mike Ogbalu III, Chief Executive Officer of the Pan African Payment and Settlement System has revealed that the payment system is making rapid progress and is fully operational in thirteen African Central Banks, and is connected to over 115 commercial banks, including ten payment switches across Africa. Another 115 commercial banks are in the pipeline for connection. “The time has come for action and acceleration. It is time to use the system to drive trade in Africa, for Africans, by Africans. We urge all banks to join us in our collective effort to promote intra-African trade and development through…
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The quest for economic integration of Africa is finally here. The African Continental Free Trade Area (AfCFTA) represents a historic milestone in the economic integration of the African continent. The FTA which entered into force in May 2019, is poised to be among the world’s largest free trade areas in terms of participating countries. The FTA brings together a total of 55 countries and 8 Regional Economic Communities (RECs) and aims to create a single market for goods and services, facilitate the movement of capital and promote the free movement of people across the continent. Just like any economic integration,…
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